Exercise- M3 -21 (Equilibrium Riding, Inc.) p. 131. Based on the information provided, you are required to : 1. Prepare an Income Statement for the year ending December 31; and, 2. Calculate the Net Profit Margin. Revenue Less Expenses: Total Expenses Net Income NET PROFIT MARGIN Company Equilibrium Riding, Inc. Income Statement For the Year Ended, December 31, For the Month Ended, December 31, Revenue As of December 31 Income Statement Statement of Retained Earnings Less Expenses: Statement of Cash Flows Balance Sheet Total Expenses Net Income NET PROFIT MARGIN Exercise- M3 -21 (Equilibrium Riding, Inc.) p. 131. Based on the information provided, you are required to : 1. Prepare an Income Statement for the year ending December 31; and, 2. Calculate the Net Profit Margin. Revenue Less Expenses: Total Expenses Net Income NET PROFIT MARGIN Company Equilibrium Riding, Inc. Income Statement For the Year Ended, December 31, For the Month Ended, December 31, Revenue As of December 31 Income Statement Statement of Retained Earnings Less Expenses: Statement of Cash Flows Balance Sheet Total Expenses Net Income NET PROFIT MARGIN